Mehmet Sezgin

While Google can certainly be trusted to create an engaging mobile interface, trust in banking goes deeper than a good digital experience, says myGini's Mehmet Sezgin.

Apple Card's user experience will pressure contactless and digital wallet innovation, an area where banks have already fallen behind, contends MyGini's Mehmet Sezgin.

Apple Card has advantages over most banks at the start, but there are things banks can do to fight back, according to Mehmet Sezgin, CEO and founder of myGini.

Although slow to catch up, issuing banks are well placed within the payments ecosystem to capitalize on short-term credit provision — in fact, they can be the biggest winners, argues Mehmet Sezgin, CEO and founder of myGini.

One solution would be to move to infrastructures where card issuers can share the cost of offering rewards with the retailers — making it a win-win-win situation, according to Mehmet Sezgin, CEO and founder of myGini.

Instead of investing in contactless cards, financial institutions should focus on moving their offerings to mobile — into apps that can do more than money management, argues Mehmet Sezgin, CEO and founder of myGini.

Customers can access personalized offers through the banking provider’s app, which means every time they earn rewards, find new deals and receive a helpful reminder of a bargain they do not want to miss, writes Mehmet Sezgin, CEO and Founder of MyGini.

To combat this loyalty fatigue, retailers need to design their programs to be frequent, relevant, interactive and visible, writes Mehmet Sezgin, CEO and founder of MyGini.